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KELOWNA, BC, Dec. 4, 2017 /CNW/ - Cannatech is pleased to announce that it has been granted a Producer's License for medical cannabis under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). The license allows Cannatech to immediately begin cultivating cannabis, bringing needed supply to the current medical market and the upcoming adult-use market in Canada.
Cannatech's license encompasses the first phase of a purpose-built 85,000 sq ft facility in Kelowna, British Columbia. The state-of-the-art facility, engineered and built to meet ISO and GMP standards, is considered one of the most advanced cannabis cultivation facilities in the world. The company expects plant growth to begin in January 2018 and anticipates having product available to sell prior to July 2018.
Cannatech has recently acquired adjacent land to support both the rapid development of cultivation capacity and the construction of a stand-alone dedicated research and development facility. Situated in the heart of the Okanagan Valley, the cannabis campus will solidify Cannatech's position as a global leader in the science and commercialization of cannabis and cannabis-related goods and services.
The Producer's License and the completion of all phases of the Kelowna campus positions Cannatech as a significant supplier to the rapidly growing Canadian medical cannabis market and the upcoming adult-use market.
Cannatech is an industry-leading company focused on the natural science of cannabis. With offices in Toronto and Kelowna, Cannatech's cultivation facilities operate within GMP compliance producing the highest quality cannabis flower and associated derivatives. Cannatech is focused on research and development to advance cultivation techniques, genetics and general understanding of cannabis. For more information visit www.cannatech.ca.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation which are based on current Cannatech expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Cannatech assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks.
SOURCE Cannatech Plant Systems
For further information: David Towill, Director, Cannatech Plant Systems Inc., Telephone: 1-877-356-9726, Email: [email protected]